Agnico Eagle Mines (TSE:AEM) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Agnico Eagle Mines Limited (TSE:AEM - Get Free Report) NYSE: AEM passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$144.79 and traded as high as C$168.07. Agnico Eagle Mines shares last traded at C$167.90, with a volume of 2,454,087 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEM. UBS Group downgraded Agnico Eagle Mines from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 31st. National Bankshares increased their price objective on Agnico Eagle Mines from C$160.00 to C$190.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. National Bank Financial upgraded shares of Agnico Eagle Mines to a "strong-buy" rating in a research note on Friday, March 21st. Stifel Canada raised shares of Agnico Eagle Mines to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus increased their price target on shares of Agnico Eagle Mines from C$185.00 to C$195.00 in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of C$144.60.

Agnico Eagle Mines Trading Up 2.0%

The stock has a market capitalization of C$57.37 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 22.97 and a beta of 1.10. The company has a current ratio of 1.75, a quick ratio of 0.89 and a debt-to-equity ratio of 7.88. The company has a fifty day moving average of C$161.71 and a two-hundred day moving average of C$145.68.

Agnico Eagle Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were paid a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 0.99%. Agnico Eagle Mines's payout ratio is presently 76.24%.

Insider Transactions at Agnico Eagle Mines

In other Agnico Eagle Mines news, Senior Officer Guy Gosselin sold 3,527 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of C$157.50, for a total transaction of C$555,502.50. Also, Senior Officer Ammar Al-Joundi sold 20,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of C$169.00, for a total value of C$3,379,960.00. Over the last ninety days, insiders have sold 45,632 shares of company stock worth $7,657,810. Corporate insiders own 0.08% of the company's stock.

Agnico Eagle Mines Company Profile

Agnico Eagle Mines is a gold miner operating mines in Canada, Mexico, and Finland. It also owns 50% of the Canadian Malartic mine. Agnico operated just one mine, LaRonde, as recently as 2008 before bringing its other mines on line in rapid succession in the following years. The company produced more than 1.7 million gold ounces in 2020.